The Dangote Group is one of the new entrant that has sprouted within a short time owing to its doggedness to strive for success in the oil industry. Its 650,000 barrels per day refinery is a boost in the industry.
President of the Dangote Group, Alhaji Aliko Dangote is committed to the oil and gas industry. In his goodwill message at the Nigeria International Petroleum Summit (NIPS), Dangote disclosed that at a time when the oil industry and the global economy is in a state of collapse, it is appropriate that the company’s attention should focus on the future of the industry especially given the incredible speed and quantum of change that is taking place in every industry and facet of human endeavour.
He made it known that as an industrialist, he cannot afford to ignore the massive changes. Nigeria’s decades of depending on the oil industry for its economic well-being and urgent need for diversification has been widely emphasized and it is clearly the most critical challenge for the country’s policy makers and operators of the economy.
Although the country intends to diversify from oil and making measureable progress in this regard, it cannot ignore the need to continue to exploit this “God given resources in a more efficient and innovative way.”
Dangote commended the organisers of the Summit and as the country venture into the industry after many years of hesitation, the Dangote Group have no other alternative but to embrace the concept of efficiency and innovation.
The company’s massive investment in refining and petrochemical in fertilizer and gas development including transportation is driven by the desire to bring innovation and efficiency in all facet of the group’s businesses and operations.
He posited that the ongoing refining project has virtually completed the initial installations and it is receiving major equipment as well. The refinery will produce 650 000 barrels per day and it is hoped that it will meet the domestic demand of petroleum products in the country and provision for export.
The fertilizer project with 300, 000, 000 tons uranium ammonia plant will boost the agriculture industry and save over $500, 000, 000 of import. The Dangote Group’s East-west gas governing system which is a $3 billion investment will unlock significant amount of gas for Nigeria’s industry especially in the energy and industrial sectors.
According to Dangote, he is delighted to participate in NIPS conference which has provided room for latest technology in the oil industry but take advantage of it to understudy the oil sector. He advised that the industry should proceed to apply latest and newest technology in its $14 billion project.
Dangote commended the Minister for State, Petroleum Resources, Dr. Ibe Kachikwu and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) and other key agencies of the oil industry for the tremendous support and encouragement to the Group as it walks on the path of progress with regards to its mega projects.